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tv   Countdown to the Closing Bell  FOX Business  August 27, 2013 3:00pm-4:01pm EDT

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♪ cheryl: i am cheryl casone in for liz claman. his last hour of trading and if you have been anywhere near the television or anywhere online today you have heard a lot about syria. potential u.s. intervention in the conflict after the alleged chemical attacks, wall street is watching. development of the middle east very closely. affecting everything from oil prices to airline stocks are of course the of gold. we are down 145 points, very near session lows for the day. here are your commodities, jumping up close to 2% per ounce right now, $23 backing off a little bit. oil the big story here, it is a gain of almost 3%.
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we are pushing $109 per barrel. we are doing that right now again. much more what has been happening to commodities later on in the show. we are also watching this stock for you, jcpenney showing signs of life at the retail chain and activist saw them several ties after selling 20 million shares. he lost almost $500 million, but he is out again with the stock. now the stock is actually down. down more than 1%. you can see the volatility on the screen for jcpenney. now for the very latest developments on that crisis in syria what the united states might be planning. in jerusalem. what are your sources telling you about a possible u.s. strike
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and reaction to all of this? >> one of the best indications we're getting in terms of when or how u.s. strike me, is from the israelis. they have with their forces on high alert, intelligence service on high alert and their pilots on high alert respond to things as they develop. the fed chief has said forces are ready, the matter of receiving a go order from the president. there has been wild speculation as to when that might happen. not if, but when. this comes as u.s. inspectors are still on the ground in syria. they headed out to one of the sites of the chemical weapons attack, collected samples, but so far they are stock in their hotel today because of security concerns. yesterday people started taking shots at them with sniper rifles. there is no end to the
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preparations. the defense system is on standby in case he decides to make good on promises to retaliate against israel. remember the syrian military has large capabilities against israel. there are scud missiles, no kind of attack by the united states would be decapitation strike or take out the ability to make war much more punching the school bully in the nose to send a message so the israelis are worried about attacks here. gas masks are going out at a very risk pays for the local post office where this really goes to pick up their gas masks. everybody is entitled to one, but not everybody has one. trying to get ready for an impending strike coming up as we sometime this week or next. the israelis do not want to get involved in this.
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they have bombed syria in the past. there was certainly like to continue that going forward. the prime minister has taken a forceful stand himself saying any kind of attack on israel soil will bring a swift and severe response. cheryl: lets now get to our floor show. the cme group and the nyse. you have to ask kind of the basic question, why was this not priced in? we knew things were coming to a head in syria. all the sudden the market seems, the stock market seems to have picked up speed to the downside, will this continue until the resolution is found? >> i don't know about that. it'll be short-lived short-lived if they strike tomorrow or thursday. we will not see boots on the
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ground obviously. it will be short-lived. it is not going to be enough to derail the momentum of this market. >> again after three weeks of straight losses culminating last friday here we are once again looking at down arrows. is there another momentum play that we are not talking about? >> it is a slow week, this news is really moving the market. if you take out syria, housing prices looked really good, consumer confidence, the underlining market is still pretty solid here. >cheryl: again, kind of the same question to you kind of looking at the groups falling on the stock side anyway if it is financial, technology, it has to be concern of the fed mixed into all of this, what is on your radar? >> you're getting talk about the debt ceiling coming in, it all
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came to a crescendo today. more importantly looking at the technicals, the 50 day moving average have a hard time getting back above it. now on the downside, the s&p is passing the moving average so to me we have not had a huge break over the summer time and i think this is it. we can talk about airstrikes with the repercussions i think that will come of this out of the middle east are not going to be good. it is a lot of uncertainty for the market. i think obama made a big mistake drawing a line in the sand. you're talking about the israelis, they will not draw a line in the sand. we will not wait for a way to tell us to go.
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cheryl: the spread on the brent contract has been fascinating to watch. >> we are a lot more self-sufficient than we have been in years, so w the contract will react more violently to the strike when it happens than we will. the contract really has a lot more room to the upside to run than we do. cheryl: is it just a couple of sessions before they follow or are they still in lockstep? >> i think you will see the spread of out on this. you will see it move quickly to the upside, we will follow it higher but not with the same philosophy. cheryl: i want to thank all of you. high volatility, but that is never boring for anybody. appreciate it.
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two luxury retailers on the move today after strong second quarters. let's go to lauren simonetti. and very shiny, very pretty blue box. lauren: tiffany is struggling a little bit now, but this is a clear winner, and it has been all day. there is the stock up more than 9%, huge gains. much of what i will say now applies to tiffany's. profits up 55% in the second quarter. raising the full-year guidance, the same for tiffany's. hiking the dividend, they both raised full-year numbers and both come out and hit historic highs today. holding that number, tiffany's falling even after all of that good news. the concern is luxury shoppers holding on. more average selling price, silver jewelry a little weaker, so too retail stocks, down just
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1%, you can see 81 even right now. very interesting stories and stocks that paint a broader picture. cheryl: the japanese shopper looking strong but it is all th. there you go. thank you very much. we will see you very soon. forget about intel inside. many of the most popular electronic devices on the planet have, it is called sandisk. we'll talk about what is next in the digital revolution coming up in a moment. and the battle lines are drawn for potential u.s. missile strike on syria after the regime, the weapons attack. we will look at the possible scenarios and potential market reaction coming up next. the boys used double miles from their capital one venture card
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cheryl: the power mover of the hour. look at the stock up more than 7%. the discount shoe retailer hitting a new high after an
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oppressive second quarter bucking the trend of the mostly down day and a lot of retailers out there. tighter expense control at the company. the crisis over syria is casting a long shadow over the market today as senior u.s. defense officials telling fox news a u.s. strike on syria is not a matter of if, but when. joining us to tell us would about a mistress may be planning is tom schaffer. we are joined by greenhaven group president. tony, it is good to see you. we keep on hearing this term there will be no boots on the ground, so will a missile strike the effective in stopping the monetary and crisis that is happening in syria? >> unfortunately i don't believe so. it will not move anything forward a positive way and both businesswise and economically
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were looking at using resources we really don't need to use by the fact i don't think i understand what the secondary and third order of consequences will be. some of the weapons of mass destruction may be hid on the base. we don't understand if he does not get the message, what do we do next. it is an effective military, but tired. i don't think we are really looking at this as a chess game, where almost reacting which is not a good thing for us to do. cheryl: i wants to go over to bring up something tony just mentioned, that is the situation with russia. normally when you see oil prices going up, it would jump higher. as a direct correlation to concerns about russia's stake in all of this not just the fact this can be a real cake in the e armor.
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>> cheryl, think the market is very nervous about the situation obviously, a number of folks in the region are in the business of propping up oil prices. a certain amount of promotion and risk premium is in their interest. cheryl: i'm wondering if the currency traders are saying this is not a good thing for the russians, certainly you can say that for a political perspective but it looks like it is a money perspective now. >> could be we are mighty focus folks and crude oil is one of the commodities, i can't give you too much insight, but i do think one thing to look at is the technicals com, this markets already seen, a jump in the risk premium back with $15 in the front and gone down in the back. we already had a big move. there is significant we touched the recent nearby high, we did not penetrate.
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our government could as it did in june release barrels from the reserve and i sent prices down a good bit less time and they could do it via a payment to rebuild the reserves over time. cheryl: and it comes to the oil fascinating to watch. something i think would affect both of us, all the market participants, that is the timing of all of this. we need to have nato behind us. if we do have a coordinated response to syria, they can do specific missile strikes that again don't hurt arguably angers the regime to go after the israelis which we certainly don't want, that possible from a military perspective, tony? >> i don't believe so. mcmichael market will go crazy because it is in jeopardy regarding where oil is put on the ship.
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that is something have to be very cognizant of. it may go about doing some things to upset things economically. the british may be with us, and may even get some folks with us, turkey is a member of nato. that is the only legal way i see us going forward because the united nations regarding china and russia will never support any military action and most importantly as i mentioned in the open discussion we don't know what we're going to do next. we do take a danger by hitting one of these spots may have weapons of mass destruction if we destroy it may have secondary effects of killing civilians. there is no upside for us economically or military at this point in time. cheryl: certainly the entire region, the volatility whether it is egypt, whether it is lebanon, jordan, i give the impact on the israelis, all of
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the volatility in the region could disrupt the shipping of oil, back at the suez canal. is that on your radar right now or not? >> i think it is a big one, that is controlled by egypt, of course. i can remind you is already increased about $20 risk premium. if you look at crude for 2020 under $80. i think the safest way for a trading perspective there is to buy it. if there's a supply disruption it will affect european deliveries in the produce market more than the u.s. has become much less dependent on imports. cheryl: the topic of iran in all of this. he still, when it comes to the israelis and relationship with
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the syrians, still the same old regime we had before. >> approximately 50,000 iranian forces in syria so there's no way we will do something against syria and not have the iranians look at what we're doing and take it personally. so we have to consider the iranian aspect of this, a new president, we don't know how he will react to this but without a clear understanding of what they want to accomplish, we do take on a danger of not only upset in the russians to some degree, the iranians will be clearly involved in some aspect of this. secondary and third order affects that have not come through. i cannot recommend military action based on a variables that we do not know. cheryl: thank you, gentlemen. of course, greenhaven president group. thank you very much. the closing bell will ring. 40 minutes to go. take a look at the dial, 163.
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to easily move my money when i need to. plus, when i call my local scottrade office, because i don't trade likeknows everi'm with scottrade. me. (announcer) scottrade. awarded five-sta from smartmoney magazine. cheryl: mcdonald's chasing chicken wing lovers. it caused a spike in wholesale chicken prices. let's go to sandra smith of the cme to talk a little chicken. sandra: the chicken wing market as a commodity itself is already seen a spike. security analyst put together a chart charting the chicken wing market, this is a wholesale chicken wing market obviously and in early january, earlier this year there was an actual visible spike in the chicken market because mcdonald's came
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online, bought the chicken wings in preparation for the launch of these wings in the fall just in time for football season. they bought early, he saw a reflection in the price of the chicken itself. now a reaction the price of the stock. by donald shares up 8% so far this year. underperforming the broader market and largely under performing the peers. i tarted up mcdonald's against wendy's. shares up 39% so far this year. the donald performance paling in comparison. maybe they will actually help mcdonald's out. if you want to know if you're interested they will start, ninth, nationwide september 24. edited time only through november, obviously analysts and investors looking at this hope to give a bump to mcdonald's shares. we shall see, cheryl. we will see if they go for the mcdonald's chicken wing.
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cheryl: i still go for the celery, but that is a different story. maybe that is why wendy's is doing so well. we will see. sandra: i cannot imagine you eating any of it. cheryl: thank you very much. sandra smith at the cme. sandisk has been making a big push into mobile, but so far investors have not quite embraced the move. up almost 24%.joining me right k cofounder, ceo and president. i am wondering, opening up the nasdaq, what is one milestone that stands out in the history of the company? >> over 25 years developing
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technology, bringing solutions to customers. give me this, almost 25 years ago sandisk was producing 20 megabytes, 20 half inch solid state drive selling for $1000. today we manufacture these devices for 512 gigabytes for less than a dollar per gigabyte. that is like improvement in cost of more than 50,000 times over 25 years in capacity you get in these is more than 25,000 times greater. this is the amazing part. the advancements in technology, bringing down the cost of flash memory production opening up applications. cheryl: i do want to talk about that. the stock is up double digits, buthe same time a samsung, 3d
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technology they are really rolling that out basically this year. you delayed a couple of years to roll out this technology which is the buzz. why the delay, why are you being cautious when it comes to the rollout? >> we're making good progress. our strategy as we wanted to bring to market giving the lowest cost and the maximum market need. cheryl: are you waiting for more advancement? >> we continue to have it 2d technologies. we have a good roadmap continue to scale the technologies next year in volume production, second-generation, the year beyond that, that is where it has position is very well with cost leadership 32015-meter
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frame. yet further lower cost, so we feel it is very important to bring the technologies to market. at the right cost when they are lower cost than today's technology. cheryl: you are saying i am going to do it cheaper. >> we continue the 2015 timeframe and then the products in the marketplace. cheryl: as a ceo i expect the shares will trade all day long. that is an expectation on the nasdaq. how are you feeling now about what happens on the nasdaq? are you frustrated? >> it will advance the technology further for progress.
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we have been partnered with the nasdaq, very please with sandisk access to the capital market and participation in terms of growing the company to scale the company and to really make a fortune 500. cheryl: the executives reach out to you to be confident, we are working to of the infrastructure? >> absolutely we are committed. he was certainly looking forward to continuing growth and the opportunities for sandisk and nasdaq. hold on just a second. we want to know which of the most accident prone cities in the nation for drivers. we ask that question and we have details.
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♪ cheryl: said do want to show you the big board because we are hitting session lows, bouncing back. around 170 points. 14765. during the commercial break. again, markets trading to the downside. lower volume, higher volatility, but you have the situation in syria that is affecting market participants. is the u.s. honda's u.s. surgical missile strike? we will find out potentially thursday for. we'll talk about that in just a little bit. second quarter earnings are wrapping up.
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one stock is on the move. let's go to nicole petallides on the floor of the new york stock exchange. >> reporter: also want to point out that the fear index is about 17. but this stock, if you look at the trading activity over the past year, it has been very active in after hours trade. the bad news is getting better at. expected to report a loss of a dime a share, narrower than a year ago. revenue of 7,148,000,000. we will watch the subscription numbers. paul lot of competitors in the battle for your living room. in the previous quarter they increase their subscriber base by 277. that was the best quarterly edition in seven years. also, and you guys know this, the ceo was on the show. the new product out. and that can record several shows that once.
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so there will continue to roll that out so that you can record shows and then watch them on their iphone and your ipad. by the way, looking at some of the analyst calls. it seems like most have an outperform or by on the stock. cheryl: thank you very much. coverage as soon as beverly's hits after the market closes. of the year. well, i shakeup at the white house to the economic team. charlie gasparino has been following that breaking news. i want to ask you about that. >> reporter: read trying to a straighten this out. you know, i'm just going to tease the viewer. we all know he has a lot to celebrate and will find out if the celebrated this. but how come back later on as soon as we -- we have one of those last-minute phone calls.
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so we're just going to go back and take our time with this. and we don't want -- i don't want to say it's 2:00 a.m. i just want to make sure we got this right or maybe not at all. maybe just a dull moment. cheryl: who were you talking to some back of paper. this is big. >> reporter: supposed to report. the director of the national economic council is planning to step down sometime soon. i believe he will be stepping down before the end of the year. i think that's a given. the question is timing. we know that the white house and congress are gearing up for budget negotiations. i think he wants to stay. that will be to the fall. these clearly seeing other people inside the white house. to his wall street sources, he wants to do something different,
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possibly go into the private sector. we should point out that he has been around a long time. the clinton administration, mainly in government. he had a stint at the council on foreign relations. he wants to go on and earn some money. given the way the regulatory apparatus has been constructed to post the financial bailouts of 2008, during the obama administration people like sperling represent big bucks for these banks. these banks a heavily regulated. there is no one better to have on staff as someone who was part of that regulation apparatus, part of the economic team of the obama administration, and that is gene sperling. it is interesting that he will be -- we don't know exactly who his replacement will be, but the rumor and speculation is that high on the list is a guy named jeffrey sites, a businessman with more business experience. also served as the office of management and budget, the
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acting director. i think he had to stand spirit a lot of people think that he will come back. president obama is very high. that is where we are right now. closer toward the end of the year, maybe october, particularly if the budget negotiations wind up fairly quickly, he will be on center. his wife and my belief and my tv executive. cheryl: is that german, by the way? >> reporter: digging it confused with zeitgeist. cheryl: larry summers, there is an american name. >> reporter: not american. i am american. cheryl: i'm glad to hear you say it because i was curious. actually about sperling. i hope to god he would stay through the best-selling debate. i mean, i just can't imagine president obama letting him go.
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>> reporter: one thing about that job, it used to be a very important job. i think it has been downgraded a little in the obama administration because the senior adviser to the president, he holds so much sway. key economic joppa, particularly the budget negotiations. cheryl: very close with the president. >> reporter: find out exactly how late and how long. cheryl: charlie gasparino. i have to tell you, thank you very much. the closing bell will ring in 18 minutes. which city is the most dangerous for you to get behind the wheel? we will break down the most accident-prone cities for drivers, and we're not going to show that crazy video again. ♪ plus investors are running for safety, but we will show you where to find strength in u.s. markets. that's after the break. ♪ weekdays are for rising to the challenge.
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♪ cheryl: as we head into the busy labor day holiday weekend, you might want to know which american cities have the drivers with the most accidents. the insurance giant allstate has just kinds the numbers in its huge database and come up with these answers. allstate says the most accident prone city in the nation for the sixth straight year is washington d.c. where drivers are likely to get into a collision once every four and a half years. the second most dangerous, baltimore md. coming in and number three, providence, rhode island. city drivers in the east have more accidents because urban
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areas in the region are typically more congested than communities in the south and the west. the safest large city from the phoenix arizona. we drive slow. but most bragging rights for safety, fort collins, colorado. i have to show you this video. you don't want to be this driver. you don't want to be this person. al, my god. i'm scared. anyway, that was creepy. don't be that person. stay safe. speaking of safety, and the market's investors have a flight to safety in the concerns about possible u.s. strikes on syria. sibila king for strength? joining is not a put some muscle in your portfolio, president and director of equities. i do want to start with this issue. certainly on a day like today we see gold spiking, silver
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spiking. you see this flight to safety. to you think investors are making a knee-jerk reaction? >> it's hard to blame any investor who's trying to get safety at that time, and of the summer when there is not a lot of volume. the equity markets have run at the expense of commodities. now they're just taking a little bit page back to what we saw the was working before. guess what was working before? dollar commodities, silver, treasurys to be right back for a lease the time being. cheryl: what sectors to you think will be affected if we do go ahead? with, of course, are partners with nato. >> that's a good question. we have seen some of them already. most effective if the consumer gets sorry to come and we have seen some of that. some of the other retailers. consumers get a little worried with rising rates. some of the news that is ever taken the market commandery of
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seen some of that effect. if that continues i would expect that to be a team that continues cheryl: i mentioned muscle. where you finding strength in the market? where are you putting muscle to work? >> there is definitely flight to treasurys and the interest-rate sensitive names. rita seen some of the flight to the mortgage rates. some of the other names that have benefited by a lower rate environment potentially could be the commercial mortgage rates which we have not talked about. north star, a couple billion dollar market kept company with the rising dividend. particularly in big cities. excellent company, well run. cheryl: is this a good hedge against tapering? >> it is commanded a good play because we will see a rising dividend environment going forward. and the dollar dividend, almost $9 stock price is a pretty good comfort in terms of the underlying asset base. that is a name or in an
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environment like we are in for rates, you may want to put some money to work. cheryl: information technology, you cannot go a day without talking data. what about information technology in general. >> we have been very, very bullish for well over a year. fortunately we have been part of some very successful ipos. i would expect those names to pull back of the market does. in terms of the three to five years seem, there are names like work day which we talked about before which is probably the most impressive company that has a huge umbrella market caps for somebody that is embedded. it's a name, albeit very expensive, that if the markets did hit you probably the morning after the next three to five years 56 looking at a couple of names. the ticker is data. new or ipo. i want to move on foot.
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any on the horizon that you are looking at for names that we maybe have not spoken about that we need to be? >> it's funny. such a bullish 2013 so far today, you would expect this rabbit tech ipo. we have not seen that kind of backdrop. a lot of ipos this year relative to last year, but only 16 percent of bin in technology. you start to see names like twitter file there as one to my company's that we think could go public in the next 18 months, i think you will see a much better backdrop. it's been a good one so far. tech has not been the 50% you saw. maybe some people would worry if that ever happened, but we are close to that yet. cheryl: you mentioned twitter and drop boxes to my technology names. we just had this last week with the nasdaq. you can't help but wonder invest yourself, when twitter does decide to go public, are they going to want to list on the nasdaq?
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all the kids a using. my mother was going to get drop box. they need to be worried about losing. >> i think it is the ultimate fighting championship. nasdaq verses the new york stock exchange. in the fall of war. there aren't going to go down lightly. obviously everyone will fight for these. the facebook ipo was not a good thing for anybody, particularly the nasdaq. in all-out war to get these on the exchanges. cheryl: well, equities. there will be getting a drop box. >> very impressive. cheryl: thank you very much. closing bell is going to rain. he had to take a look at the del. off session lows which is nice to see. the international situation, the concerns about syria, all of
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3:57 pm'll bust your brain box. ♪ all onhinkorswim from td ameritrade. ♪ cheryl: we are in the last couple of moments of the market closing and obviously there are some stocks we're watching. bank of america, microsoft, united technologies, these are your liger's, but it has been a rough day, down 161 points, and one point we were down 1,401,600 change. on the dow, but again a rough day, where concerned of syria over there. earnings coming out after the bell, the volatility was rising
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today, the dow and the s&p basically at two-month lows at this point. trading at levels not seen since july 8 at this point. the market very nervous of geopolitical concerns. david: only down 160 points? the bottom line is this looks awful and is awful, but a lot of nervous nelly's out there now. we have somebody coming up saying we already found the bottom. first talk about volatility. as we were talking about a lot of nervousness, a big jump, way up to about 12%. lauren: tough day. a rise of 13.5%. today alone a rise yesterday as well. the fear is back. cheryl: crude is rallying.
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>lauren: crude went through 109 per barrel. down about two and .5% but every company from the railroad like union pacific and fedex to ch robinson all down, down sharply. david: one commodity in particular, gold. they thought gold would still fall. it is up another $22. it is actually back into a bull market because it is 20% off of its lows. >> back in bull market territory, and a lot of the gold miners got hit hard. if you look at the etf, red arrows across the board. cheryl: with airline prices, another sector to watch going into the close.
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united down 7%. cheryl: and the bells are ringing on wall street. i look at how the stocks are finishing up as you can see on the screen, 156 points, 169. the market will continue to move for the next few moments. the nasdaq losing ground as well. a rough day for the market. david: looks like we are testing those. small and midsize cap's getting hit the hardest. front-pagfront page headlines, e case-shiller index shows u.s. home prices rose 2.2% in june, a slower pace than in me. sounds good but fudging on whether it was good in the long run. led by the 24.9% surge in las vegas. cheryl: place your bets.


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